Forums: Discussions for entrepreneurs and small business.

My cousin and I have been wanting to one day start our own business one day, we have had plans now for months but because of some new certain laws it had squashed our whole dream.
Now we have been thinking of a lot of things together, so now we are thinking, why not start up a liquor store, heres some questions I have , it doesn`t really get into detail questions about liquor stores though.

I will turn 21 soon, he is 19, we want to be partners though and split 50/50 though of course, If I want to get a liquor retailer license when I turn 21, then would the business be able to only have me as the owner on paper ?

If so would I be able to easily add someone else as a business parter when he turns 21 ?

Would he have to wait untill hes 21 to work there ?

I`m really just asking something like, does he have to wait until hes 21 to be put as partner on paper, or can we just split the profits and then when hes 21 could he be put on in name on paper?

and does he have to wait untill hes 21 to work there at all?

Thank you for any help.

edit* I`ve been doing a lot of research but I can`t seem to find the zoning information, if anyone else knows a website or information on how to find that kind of information, I`m looking for that too.
Thanks.

Your state liquor control commission office would be a good place to find out if someone under the age of 21 can work at a liquor store. Depending upon where you live, your cousin may be able to enter into a contract without being 21. If so, he can be listed on company documents as legal part owner.

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Hi mate,

I thought you were planning for a real estate business? Anyway I am not aware of the laws in States, but here in UK the minimum age of alcohol purchase is same as alocohol selling. So basically if you can buy alcohol at 21 you can also open a liquor store or an offy (as we say in UK).

Now,If your mate is not 21 I dn`t think he can even work with you in a liqour store.(presuming alcohol purchase age in US is 21). So he`ll have to help you from outside, like helping you with accouts and stuff untill he reaches the age.

Hey whats up, Yeah im getting my real estate license at the moment but i`m also taking small business marketing classes because my cousin and I also want to one day have our own business.

Thanks for the response.

My suggustion is a sub contractor agreeement. Then when he your cousin reaches age then add him to the corporation. Good luck

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Tony

Those who care teach.